ABL Termination Date definition

ABL Termination Date shall have the meaning given such term in the ABL Intercreditor Agreement.

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ABL Termination Date means the first date on which the Release Conditions (as defined in the ABL Security Agreement) are met.

ABL Termination Date means the first date on which (i) the ABL Secured Obligations, if any, (other than those that constitute Unasserted Contingent Obligations) have been paid in cash in full (or, if applicable, cash collateralized or defeased in accordance with the terms of the applicable ABL Loan Documents), (ii) all commitments to extend credit under the applicable ABL Loan Documents have been terminated, (iii) there are no outstanding letters of credit issued under the ABL Agreement (other than such as have been cash collateralized or backstopped in accordance with the terms of the ABL Loan Documents) and (iv) the ABL Agent has delivered a written notice to the other Representatives stating that the ABL Termination Date has occurred to the satisfaction of ABL Agent. For the avoidance of doubt, a Refinancing of the ABL Secured Obligations shall not give rise to the ABL Termination Date unless the terms thereof expressly so provide with reference to this Agreement. Notwithstanding the foregoing, if at any time after the ABL Termination Date has occurred, any Grantor enters into any ABL Agreement evidencing the ABL Secured Obligations permitted hereby, then such ABL Termination Date shall automatically be deemed not to have occurred for all purposes of this Agreement, and the obligations under such ABL Agreement shall automatically be treated as ABL Secured Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Common Collateral set forth herein, and the collateral agent under such ABL Agreement shall be the ABL Agent for all purposes of this Agreement. Upon receipt of a notice stating that any Grantor has entered into a new ABL Agreement (which notice shall include the identity of the collateral agent thereunder, such agent, the “New ABL Agent”), the MDL Term Loan Agent, the 21C Term Loan Agent and the PIK Toggle Notes Agent shall promptly enter into such documents and agreements (including amendments or supplements to this Agreement) as such Grantor or such New ABL Agent may reasonably request in order to

Examples of ABL Termination Date in a sentence

The Applicable Agent will not rescind such instructions unless (i) prior to the ABL Termination Date, a Liquidity Trigger Period shall be continuing or (ii) at all other times, an Event of Default shall have occurred and be continuing.
Funds held in any Controlled Deposit Account or Controlled Securities Account may, until withdrawn, be invested and reinvested in such Permitted Investments as the US Borrower shall request from time to time; provided that (i) prior to the ABL Termination Date, if a Liquidity Trigger Period shall be continuing or (ii) at all other times, if an Event of Default shall have occurred and be continuing, the Applicable Agent may select such Permitted Investments.
Funds held in any Controlled Deposit Account or Controlled Securities Account may, until withdrawn, be invested and reinvested in such Permitted Investments as the Borrower shall request from time to time; provided that (i) prior to the ABL Termination Date, if a Liquidity Trigger Period shall be continuing or (ii) at all other times, if an Event of Default shall have occurred and be continuing, the Applicable Agent may select such Permitted Investments.
At any time prior to the ABL Termination Date, the ABL Agent shall have the right to direct the Senior Credit Agent (as defined in the Junior Lien Intercreditor Agreement) with respect of the Senior Credit Agent’s rights under the Junior Lien Intercreditor Agreement; provided the Senior Credit Agent shall not be obligated to take any such action at the direction of the ABL Agent unless the Senior Credit Agent is indemnified for taking any such actions in a manner reasonably satisfactory to it.
Funds held in any other Controlled Deposit Account or Controlled Securities Account may, until withdrawn, be invested and reinvested in such investments as the Issuers shall request from time to time; provided that (i) prior to the ABL Termination Date, if a Liquidity Trigger Period shall be continuing or (ii) at all other times, if an Event of Default shall have occurred and be continuing, the Applicable Agent may (but shall not be obligated to) select such investments.

More Definitions of ABL Termination Date

ABL Termination Date means the first date on which (i) the ABL Secured Obligations (other than those that constitute Unasserted Contingent Obligations) have been indefeasibly paid in cash in full (or, if applicable, cash collateralized or defeased in accordance with the terms of the applicable ABL Credit Agreement Loan Documents), (ii) all commitments to extend credit under the ABL Credit Agreement Loan Documents have been terminated, (iii) there are no outstanding letters of credit or similar instruments issued under the ABL Credit Agreement Loan Documents (other than such as have been cash collateralized or defeased in accordance with the terms of the ABL Credit Agreement Loan Documents). For avoidance of doubt, a Refinancing of ABL Secured Obligations that is permitted hereby shall not give rise to the ABL Termination Date unless the terms thereof expressly so provide with reference to this Agreement.

ABL Termination Date means the first date on which (i) the ABL Secured Obligations (other than those that constitute Unasserted Contingent Obligations and other than any Cash Management Obligations or Secured Hedge Obligations) have been paid in cash in full (or, if applicable, cash collateralized or defeased in accordance with the terms of the applicable ABL Loan Documents), (ii) all commitments to extend credit under the applicable ABL Loan Documents have been terminated and (iii) there are no outstanding letters of credit issued under the ABL Agreement (other than such as have been cash collateralized or backstopped in accordance with the terms of the ABL Loan Documents). For the avoidance of doubt, a Refinancing of the ABL Secured Obligations shall not give rise to the ABL Termination Date unless the terms thereof expressly so provide with reference to this Agreement. Notwithstanding the foregoing, if at any time after the ABL Termination Date has occurred, any Grantor enters into any ABL Agreement evidencing ABL Secured Obligations permitted hereby, then such ABL Termination Date shall automatically be deemed not to have occurred for all purposes of this Agreement, and the obligations under such ABL Agreement shall automatically be treated as ABL Secured Obligations for all purposes of this Agreement, including for purposes of the Lien priorities and rights in respect of Common Collateral set forth herein, and the collateral agent under such ABL Agreement shall be the ABL Agent for all purposes of this Agreement. Upon receipt of a notice stating that any Grantor has entered into a new ABL Agreement (which notice shall include the identity of the collateral agent thereunder, such agent, the “New ABL Agent”), the Term Loan Agent shall promptly enter into such documents and agreements (including amendments or supplements to this Agreement) as such Grantor or such New ABL Agent may reasonably request in order to provide to the New ABL Agent the rights contemplated with respect to the ABL Agent and the ABL Secured Parties hereunder.